Penn Fruit: Difference between revisions
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[[Media:Example.ogg]] The Penn Fruit Company was a regional grocery chain in the Philadelphia and Baltimore areas that operated from 1927 until 1979. During the firm’s history it was regarded as one of the most innovative American supermarket chains. Unfortunately |
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'''Penn Fruit''' was a chain of [[supermarket]]s that started out selling only [[produce]]. It had stores in the [[Philadelphia, Pennsylvania|Philadelphia]] area of [[Pennsylvania]] and surrounding states. It was founded in 1927 and filed for [[bankruptcy]] in 1975. The stores were sold to the [[Food Fair]] chain and rebranded to that banner. Food Fair has also since gone out of business. |
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The company’s innovations often were copied by its bigger rivals who eventually succeeded in causing the chain’s demise. |
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== History == |
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The company was founded in 1927 by three Philadelphia merchants-Morris Kaplan, Issac Kaplan and Samuel Cooke-as a produce store on 52nd and Market streets in Philadelphia. The store used low prices and heavy promotions to drive sales |
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The store was so successful,it was soon doing $10,000 a week in sales. The success of that initial store attracted John McClatchy, a local builder to commission the young company to build a produce and seafood store in what would be Philadelphia’s first shopping center. By the early 1930’s the company had grown to six stores, and , though it did not want to add a full line of groceries to its’ fare, competition from established chains like Acme and A&P forced it into the grocery business. However, unlike the bigger chains, the company was so successful that it could easily transistion its chain from |
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smaller stores to larger supermarkets. Throughout the 1930’s and 40’s Penn Fruit expanded its older stores and added new ones throughout greater Philadelphia and New Jersey. It eventually added fresh meat departments to its stores and became one of the first chains to sell floral items. Because of its’ discount format and its’ first class stores the company was eventually regarded as the gold standard in Philadelphia supermarkets. After World War II and throughout the 1950’s, the company expanded its territory, opening stores in both New York and Baltimore. However , the company was less than successful with these stores, partly because of their geographic distance from Philadelphia. In the 1960’s the company diversified, establishing chains of garden stores,discount drug stores,convenience food stores, buying a chain of Baltimore area supermarkets, and well as a toy chain called Kiddie City. But the company’s greatest success was in its’ core business-supermarkets. In 1964 the company launched a chain of discount supermarkets called Dales, and three years later opened the first in a chain of Consumers Warehouse Markets. By 1971 the company had nearly 80 stores and sales of $370 million dollars, However rivals such as A&P,Food Fair(later known as Pantry Pride) and Acme were opening discount stores of their own , and in 1973 Acme’s 173 Philadelphia-area stores launched a price war against Penn Fruit’s 12 warehouse markets. This move set off a series of events that would lead to the latter’s downfall. After nearly two years the bottom fell out. Penn Fruit, unable to compete, filed Chapter 11 Bankruptcy and began selling off most of its non supermarket holdings. It then later closed all but a handful of its supermarkets, including the last of its’ Baltimore division (now called Big Value) |
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with the remaining 17 stores, being sold to rival Pantry Pride in 1976. Penn Fruit continued as a division of Pantry Pride until the latter filed bankruptcy two years later, with those units being absorbed by a variety of competitors. |
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Revision as of 20:47, 6 January 2007
Media:Example.ogg The Penn Fruit Company was a regional grocery chain in the Philadelphia and Baltimore areas that operated from 1927 until 1979. During the firm’s history it was regarded as one of the most innovative American supermarket chains. Unfortunately The company’s innovations often were copied by its bigger rivals who eventually succeeded in causing the chain’s demise.
History
The company was founded in 1927 by three Philadelphia merchants-Morris Kaplan, Issac Kaplan and Samuel Cooke-as a produce store on 52nd and Market streets in Philadelphia. The store used low prices and heavy promotions to drive sales The store was so successful,it was soon doing $10,000 a week in sales. The success of that initial store attracted John McClatchy, a local builder to commission the young company to build a produce and seafood store in what would be Philadelphia’s first shopping center. By the early 1930’s the company had grown to six stores, and , though it did not want to add a full line of groceries to its’ fare, competition from established chains like Acme and A&P forced it into the grocery business. However, unlike the bigger chains, the company was so successful that it could easily transistion its chain from
smaller stores to larger supermarkets. Throughout the 1930’s and 40’s Penn Fruit expanded its older stores and added new ones throughout greater Philadelphia and New Jersey. It eventually added fresh meat departments to its stores and became one of the first chains to sell floral items. Because of its’ discount format and its’ first class stores the company was eventually regarded as the gold standard in Philadelphia supermarkets. After World War II and throughout the 1950’s, the company expanded its territory, opening stores in both New York and Baltimore. However , the company was less than successful with these stores, partly because of their geographic distance from Philadelphia. In the 1960’s the company diversified, establishing chains of garden stores,discount drug stores,convenience food stores, buying a chain of Baltimore area supermarkets, and well as a toy chain called Kiddie City. But the company’s greatest success was in its’ core business-supermarkets. In 1964 the company launched a chain of discount supermarkets called Dales, and three years later opened the first in a chain of Consumers Warehouse Markets. By 1971 the company had nearly 80 stores and sales of $370 million dollars, However rivals such as A&P,Food Fair(later known as Pantry Pride) and Acme were opening discount stores of their own , and in 1973 Acme’s 173 Philadelphia-area stores launched a price war against Penn Fruit’s 12 warehouse markets. This move set off a series of events that would lead to the latter’s downfall. After nearly two years the bottom fell out. Penn Fruit, unable to compete, filed Chapter 11 Bankruptcy and began selling off most of its non supermarket holdings. It then later closed all but a handful of its supermarkets, including the last of its’ Baltimore division (now called Big Value)
with the remaining 17 stores, being sold to rival Pantry Pride in 1976. Penn Fruit continued as a division of Pantry Pride until the latter filed bankruptcy two years later, with those units being absorbed by a variety of competitors.
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